Tokio Marine Asset Management Co. Ltd. Grows Stock Position in Citigroup Inc. (NYSE:C)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Citigroup Inc. (NYSE:C) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 54,584 shares of the company’s stock after purchasing an additional 1,817 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Citigroup were worth $3,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its position in Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after acquiring an additional 140 shares during the last quarter. Lifestyle Asset Management Inc. boosted its holdings in shares of Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after purchasing an additional 160 shares during the last quarter. Grove Bank & Trust grew its position in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after purchasing an additional 170 shares during the period. MWA Asset Management grew its position in shares of Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after purchasing an additional 173 shares during the period. Finally, Bridge Creek Capital Management LLC increased its stake in Citigroup by 0.3% in the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Down 0.5 %

Shares of C opened at $81.43 on Monday. Citigroup Inc. has a one year low of $52.24 and a one year high of $82.77. The stock has a 50-day moving average price of $73.67 and a 200 day moving average price of $66.63. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $154.01 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts forecast that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Analyst Upgrades and Downgrades

C has been the subject of several recent analyst reports. Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. The Goldman Sachs Group increased their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Evercore ISI upped their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.